Skyline Apartment Reit enters Dieppe, NB with 3-building purchase
On June 15, 2018, Skyline Apartment REIT, a privately-owned and managed portfolio of multi-residential properties across Canada, finalized a deal to purchase a property of three buildings for $8.4M. The purchase is comprised of 25, 35, & 55 Primrose Lane (La Chaussée) and is Skyline Living’s first acquisition in Dieppe, New Brunswick. Skyline Living also owns properties in Moncton.
Created in 2006, Skyline Apartment REIT is fully-managed and operated by the Skyline Group of Companies, a Guelph, ON-based real estate acquisitions, management, and investment firm.
“We are very excited to expand Skyline Living’s presence in New Brunswick to include Dieppe,” commented Matthew Organ, President of Skyline Apartment REIT. “This acquisition allows us to bring our model of quality homes with a community focus to the residents of Dieppe, enabling us to have an impact on not only the tenants but the larger community as well.”
The professionally managed buildings feature many amenities and are adjacent to conservation lands. As part of the Skyline Living community, the Resident Manager of this portfolio will plan regular social events and charitable activities to help the residents of the building be active members of the Dieppe community.
Post-acquisition, the Skyline Apartment REIT comprises 195 properties in 52 communities across 8 provinces – ON, SK, NB, NL, QC, AB, BC, NS – with 17,242 units and 661,195 square feet of commercial space.